{"id":16910,"date":"2007-03-22T14:52:32","date_gmt":"2007-03-22T13:52:32","guid":{"rendered":"https:\/\/www.gruppoigd.it\/il-consiglio-di-amministrazione-approva-i-risultati-di-esercizio-al-31-dicembre-2006\/"},"modified":"2019-01-10T16:26:41","modified_gmt":"2019-01-10T15:26:41","slug":"il-consiglio-di-amministrazione-approva-i-risultati-di-esercizio-al-31-dicembre-2006","status":"publish","type":"post","link":"https:\/\/www.gruppoigd.it\/en\/il-consiglio-di-amministrazione-approva-i-risultati-di-esercizio-al-31-dicembre-2006\/","title":{"rendered":"The Board of Directors approves the yearly results as of 31 December 2006"},"content":{"rendered":"<div class=\"intro\">\n<ul>\n<li><strong>Value of production of \u20ac 105.99 million<\/strong><\/li>\n<li><strong>Gross Operating Margin (EBITDA) of \u20ac 43.08 million<\/strong><\/li>\n<li><strong>Operating Margin (EBIT) of \u20ac 99.55 million<\/strong><\/li>\n<li><strong>Pre-tax results of \u20ac 91.57 million<\/strong><\/li>\n<li><strong>Net profits of \u20ac 56.68 million<\/strong><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<\/div>\n<div class=\"body\">\n<p class=\" text-justify\">The Board of Directors of IGD S.p.A. \u2013 a BLUE CHIP company listed on the MIDEX segment of the Italian Stock Exchange, operating in the retail real estate sector \u2013 met today to examine figures for FY 2006, which proved to be positive and in line with forecasts.<\/p>\n<p class=\" text-justify\">FY 2006 closed with a value of production of \u20ac 105.99 million, up by 99% compared to \u20ac 53.16 million as at 31 December 2005.<\/p>\n<p class=\" text-justify\">More specifically, the value of production also includes a profit of \u20ac 43.06 million resulting from the sale of the addition onto the Centro Leonardo shopping center in Imola, which took place in November. Although not falling under IGD\u2019s typical corporate strategy, this particular transaction generated a capital gain of about \u20ac 3.5 million. Considering this operation\u2019s net value alone, the value of production would be around \u20ac 66 million with a year-on-year increase of approximately 25% if compared to \u20ac 53 million in FY 2005.<\/p>\n<p class=\" text-justify\">The gross operating margin (EBITDA) &#8211; \u20ac 43.08 million \u2013 grew by 30% compared to \u20ac 33.24 million in FY 2005.<\/p>\n<p class=\" text-justify\">The operating margin (EBIT) &#8211; \u20ac 99.55 million \u2013 grew by 50% compared to \u20ac 66.35 million in FY 2005.<\/p>\n<p class=\" text-justify\">The pre-tax result amounted to \u20ac 91.58 million, up 47% compared to \u20ac 62.47 million as at 31 December 2005.<\/p>\n<p class=\" text-justify\">Net profit stood at \u20ac 56.68 million. It should be mentioned that in FY 2005, IGD reached a net profit of \u20ac 81.66 million because it availed itself of law 266\/2005 aimed at revaluing corporate assets from a fiscal viewpoint by paying a 12% lieu tax. For this reason, the income statement included a positive adjustment for differed taxes accrued in earlier fiscal years.<br \/>\nNet financial indebtedness was \u20ac 338.06 million compared to \u20ac 353.80 million of 30 September 2006. The decrease in the net financial position is primarily due to earnings from the sale of the aforementioned shopping center addition.<\/p>\n<p class=\" text-justify\">\u201c<em>The positive figures for 2006<\/em>,\u201c states\u00a0<strong>Filippo Carbonari CEO of Igd<\/strong>, \u201c<em>result from both the successful management of the current property portfolio, as well as the growth achieved over 2005 and 2006.<\/em>\u201d<\/p>\n<p class=\" text-justify\">The Board of Directors also proposed the distribution of a dividend of 0.035 to be discussed at the next Shareholders\u2019 Meeting, which will be held on April 23, instead of the 26, as originally planned. The coupon detachment will go into effect on April 30, while payment will take place on May 4.<\/p>\n<p class=\" text-justify\">It should also be mentioned that, in compliance with the provisions of art. 82 of the Issuers Regulations adopted through Consob Ruling no. 11971 after switching from the Star segment to Midex, the company will be exempt from issuing quarterly reports for the periods expiring at the end of each half-year. As a consequence, there are some changes on the financial schedule.<\/p>\n<p class=\" text-justify\">The BOD will not be meeting on 9 August to approve the second quarterly report; however, a meeting for the approval of the first half-year report will take place on 12 September 2007 instead of on the 27, as originally stated.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Board of Directors of IGD S.p.A. \u2013 a BLUE CHIP company listed on the MIDEX segment of the Italian Stock Exchange, operating in the retail real estate sector \u2013 met today to examine figures for FY 2006, which proved to be positive and in line with forecasts.<\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[86],"tags":[88],"class_list":["post-16910","post","type-post","status-publish","format-standard","hentry","category-price-sensitive-en","tag-risultati-economico-finanziari-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/16910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/comments?post=16910"}],"version-history":[{"count":3,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/16910\/revisions"}],"predecessor-version":[{"id":16972,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/posts\/16910\/revisions\/16972"}],"wp:attachment":[{"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/media?parent=16910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/categories?post=16910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gruppoigd.it\/en\/wp-json\/wp\/v2\/tags?post=16910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}